# Cocoa and Sugar

Their prices have moved together.

Source page: https://www.materialinsights.org/links/cocoa-and-sugar/

[Cocoa](https://www.materialinsights.org/commodities/cocoa/) (commodity) and [Sugar](https://www.materialinsights.org/commodities/sugar/) (commodity): 1 relationship.

## How they are linked

### 1. Price link: co-input in chocolate

*Cost and price · Weak · Both ways*

Sugar and cocoa are the main ingredients of chocolate, so a confectioner buys both. But they are grown in different places, and the price link is weak: monthly moves correlate at 0.15 and yearly moves at 0.12.

- **0.15** monthly change correlation
- **0.12** 12-month change correlation
- **0.50** fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.